SBA, Treasury Release Simplified Loan Forgiveness Form for PPP Loans under $50K
The Small Business Administration, in conjunction with the Treasury Department, released a simpler loan forgiveness form and instructions for Paycheck Protection Program (PPP) loans of $50,000 or less. According to a release from the Treasury Department, the SBA began approving forgiveness applications and remitting forgiveness payments to PPP lenders for PPP borrowers on October 2, 2020.
The SBA also released the text of an interim final rule which will implement the changes to PPP loans under $50,000. You can read that IFR in its entirety here.
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